Switch’s $600 Million Senior Notes Offering

Latham & Watkins LLP represented Switch, Inc., while Simpson Thacher represented the Initial Purchasers in the transaction.

Switch, Inc. has announced that its subsidiary Switch, Ltd. (the “Issuer”) has priced a private offering of US$600 million in aggregate principal amount of its 3.75% senior unsecured notes due 2028 (the “Notes”). The offering is expected to close on September 17, 2020, subject to customary closing conditions. The Notes are being sold in a private offering pursuant to an available exemption from the registration requirements of the Securities Act of 1933, as amended. The Notes will be guaranteed by each of the Issuer’s subsidiaries that guarantee the Issuer’s obligations under its senior secured credit facilities.

Switch is a technology infrastructure company specializing in developing the world’s largest and most advanced hyperscale retail colocation data centers.

Latham & Watkins LLP represented Switch, Inc. in the transaction with a corporate deal team led by Orange County partner Shayne Kennedy (Picture) and Boston partner Wesley Holmes, with Washington D.C. counsel Charles Cassidy, Washington, D.C. associate Christopher Clark, Orange County associate Benjamin Sosin and New York associates Jonathan Burns and Daniel Walder. Advice was also provided on tax matters by Chicago partner Joseph Kronsnoble and Century City partner Pardis Zomorodi, with Los Angeles associate Kathryn Harrington.

Simpson Thacher represented J.P. Morgan Securities LLC, as representative of the initial purchasers, with a team including Art Robinson (Picture), David Azarkh, Benjamin Heriaud and Nicholas Halliburton (Capital Markets); Jonathan Cantor (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Lori Lesser and Loren Shokes (Intellectual Property); Michael Isby (Environmental); Timothy Gallagher (Real Estate); Mark Skerry (Regulatory); and Andrew Pagliughi (Blue Sky).

Involved fees earner: Jonathan Burns – Latham & Watkins; Charles Cassidy III – Latham & Watkins; Christopher Clark – Latham & Watkins; Kathryn Harrington – Latham & Watkins; Wesley Holmes – Latham & Watkins; Shayne Kennedy – Latham & Watkins; Joseph Kronsnoble – Latham & Watkins; Benjamin Sosin – Latham & Watkins; Daniel Walder – Latham & Watkins; Pardis Zomorodi – Latham & Watkins; David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Timothy Gallagher – Simpson Thacher & Bartlett; Nicholas Halliburton – Simpson Thacher & Bartlett; Benjamin Heriaud – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Loren Shokes – Simpson Thacher & Bartlett; Mark Skerry – Simpson Thacher & Bartlett;

Law Firms: Latham & Watkins; Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC; Switch;

Author: Ambrogio Visconti